The craze for SUVs at present is such that the waiting periods for some of the most popular models are stretching to over two years, and fresh orders are still flowing in
TopicsIndian car market | SUV | Luxury car maker Read also : The real estate sector fell 21% in the first half of the 22nd, focusing on mortgage rates.
India’s affinity with SUVs is growing at a rapid pace and automakers are fueling the affair even more, having launched 36 such models in the last five years. So craze is today’s SUVs that waiting periods for some of the most popular models have been extended to more than two years, and new orders are still pouring in. Car buyers are now willing to spend more on their personal mode of travel and prefer high-end variants that come with features such as sunroofs and connected technology. In a market where hatchbacks used to dominate the sales chart, entry-level and midsize sports vehicles (SUVs) are gaining popularity, leading to more product launches in the segment. “The SUV segment has experienced great growth in recent years. The SUV segment’s contribution, which used to be around 19 per cent of the industry, has now risen to 40 per cent in 2021-22 and we see it growing further,” Maruti Suzuki India Senior Executive Director (Sales and Marketing) Shashank Srivastava told PTI. One of the reasons for the growth of this segment is due to customers’ desire for vehicles with high position and road visibility, he added. With increasing demand, the entry-level SUV segment became the largest in the domestic passenger vehicle market last year, surpassing the premium hatchback vertical that has dominated the market since 2011. From last year’s 30.68 lakh volume, the share of entry-level SUVs reached 6.52 lakh units. It is also not surprising that the maximum models launched in the last five years across the passenger vehicle segment are in the compact and midsize SUV space. “In addition, the new millennial generation prefers to buy high-end variants that are equipped with several comfort and convenience features. Preference for feature-laden cars tel ah rose from 17 percent in 2016-17 to 24 percent in 2021-22. In some of our models, such as the recently launched Breeza, the top variant accounts for 70 percent of bookings,” Srivastava said. “Studies show that spending is on the rise now and people are willing to spend more, he said. Managing Director of Tata Motors Passenger Vehicles Shailesh Chandra said different designs, evolving lifestyles, shift from public transportation to private transportation as a result of the pandemic, increasing awareness of safety and comfort features, among others , are some of the factors driving growth in the passenger vehicle market. “Today’s customers know exactly what they want and we are constantly striving to provide them with the same products through our range, which is updated in short time, both in terms of features, variants or new products,” he said. Chandra said the company’s strong return in FY 21, reclaiming the third position in terms of volume and becoming a challenger brand, has been behind unleashing the full potential of the new line of cars and SUVs, which have been developed after an in-depth study of the market. and understand the evolving needs of customers. Kia India Chief Sales Officer Myung-sik Sohn said the increasing demand for SUVs among Indian customers clearly indicates a strong preference for bold and stylish vehicles with high posture. “We launched Carens earlier this year and have sold more than 30,000 units in less than five months,” he added. Another trend the company is observing is that more customers are buying high-end variants of the car, Sohn said. “In fact, 47 per cent of the total Kias sold in India are the best models and this shows that today’s customers are not asking for anything other than what they say. good.” Connected features are something today’s customers want in their cars and Kia now has more than two lakh connected cars on Indian roads with an action vasi rate of 97 per cent, said Sohn. 
 ; Furthermore, modern, digitally savvy customers are increasingly seeking the experience of owning a car with minimal physical contact, he added. Toyota Kirloskar Motor Association Vice President (Strategic Sales and Marketing) Atul Sood said the fast pace of urbanization and economic development rapidly contributing to the demand for SUVs. There are enough models available in the segment to meet the demand, making SUVs one of the strongest line-ups in the car market today, he said. & #xD; Sood notes that new launches and product refreshes always bring additional excitement and interest among customers. “We at Toyota have received an overwhelming response to all of our new offerings, including suk the new Camry Hybrid and the new Glanza,” he said. (Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from the syndicated feed.)
India’s romance with SUVs is rapidly increasing and automakers are increasingly pushing for the affair, having launched 36 such models in the last five years.
So craze is today’s SUVs that waiting periods for some of the most popular models have been extended to more than two years, and new orders are still pouring in.
Car buyers are now willing to spend more on their personal mode of travel and prefer high-end variants equipped with features such as sunroofs and connected technology.
In a market where hatchbacks used to dominate the sales charts, it is entry-level and mid-range sports vehicles (SUVs) that are gaining in popularity, leading to more product launches in the segment.
“The SUV segment has experienced great growth in recent years. The contribution of the SUV segment, which used to be around 19 per cent of the industry, has now risen to 40 per cent in 2021-22 and we see it growing further,” Maruti Suzuki India India Senior Executive Director (Sales and Marketing) Shashank Srivastava told PTI.
One of the reasons for the growth of this segment is the customer’s desire for vehicles with high position and road visibility, he added.
With increasing demand, the entry-level SUV segment became the largest in the domestic passenger vehicle market last year, overtaking the premium hatchback vertical that has dominated the market since 2011.
From last year’s 30.68 lakh volume, the share of entry-level SUVs reached 6.52 lakh units.
It is also not surprising that the maximum models launched in the last five years across the passenger vehicle segment are in the compact and midsize SUV space.
“In addition, the new millennial generation prefers to buy high-end variants that are equipped with several comfort and convenience features. The preference for feature-laden cars has risen from 17 percent in 2016-17 to 24 percent in 2021-22. In some of our models, such as the recently launched Breeza, the top variant accounts for 70 percent of orders,” said Srivastava.
Studies show that spending is on the rise now and people are willing to spend more, he said.
Managing Director of Tata Motors Passenger Vehicles Shailesh Chandra said different designs, evolving lifestyles, shift from public transportation to private transportation as a result of the pandemic, increasing awareness of safety and convenience features, among others, are some of the factors driving growth in the market. passenger vehicle market.
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“Customers today know exactly what they want and we are constantly trying to provide them with the same through our range, which is refreshed in no time, be it in terms of features, variants or new products,” he said.
